Bitwala, Solarisbank To Join Together To Create Blockchain Bank Account

Bitwala, Solarisbank To Join Together To Create Blockchain Bank Account

Blockchain startup Bitwala, blockchain banking service, headquartered in Berlin, Germany that was founded by Jörg von Minckwitz, Jan Goslicki, and Benjamin P. Jones in October 2015. The company aims to “close the gap between crypto and traditional banking” and thus, promote “mainstream adoption”, cooperates with FinTech company solarisBank to launch a blockchain Bank account in Germany.

Cooperation will allow Bitwala to offer banking services under the German banking license of solarisBank. The goal is to launch the service in mid-November 2018, Bitwala hopes to serve those who already own cryptocurrencies. According to the company, 35,000 users have previously registered for the upcoming service.

The features that made possible the partnership were a technical platform that gives any company the ability to go and connect their use cases to the solarisBank API.

In addition, with the help of a Visa-supported solarisBank, Bitwala avoids some of the regulatory mistakes it has faced in the past. In January 2018, Bitwala was one of several cryptocurrency companies affected when Visa Europe closed the account of its debit card Issuer.